Weekly Address: President Obama Calls on Congress to Pass Credit Card Reform Bill [May 10, 2009] [open pdf - 93KB]
"In his weekly address [May 10, 2009], President Barack Obama called on Congress to pass a credit card reform bill, so that he can sign it into law by Memorial Day. The American people know that they must act responsibly and fairly, and credit institutions must do the same. Sudden rate hikes, unfair penalties, and hidden fees are too common and are hurting too many people. The set of principles the President has advocated will bring strong and reliable protections to consumers and strengthen monitoring, enforcement, and penalties for credit card companies that attempt to take advantage of ordinary Americans. "
White House http://www.whitehouse.gov/